Post
Topic
Board Service Discussion
Re: Bitcoin Banknotes
by
Hell-raiser
on 07/05/2018, 09:03:08 UTC
There are OpenDime devices on the market already, and they recently seem to have developed a new version of their disposable wallet.

Opendime is perhaps closest to Tangem Notes in terms of ideology. Like Ledger, Opendime uses secure electronics in addition to insecure chips. Our goal is to make Tangem Notes by far more secure and easier to use than any other technology on the market.

So, is there any way for the company to retrieve lost cards? Knowing people, they would lose these cards or it will get destroyed. or is this card indestructible?

I don't know about this new device and how the producer handles such issues, but with OpenDime what's lost is lost, and it's for good. However, with hardware wallets it is possible to retrieve the keys if your device malfunctions, though that doesn't mean that they keep the keys as such (meaning that someone from inside can steal your coins). If I'm not mistaken, they don't keep the keys themselves but you can still restore the key if you keep a seed to the key (or how it is called correctly). In simplified terms, they keep one part of the password to the key while you keep the other part, so in no way they can steal the coins from you.

I can just imagine that millions of these cards will be created and not a lot of them will survive over time. What happens with the odd Satoshi that are on these cards, if the fees to transfer them, are higher than the amount? 

In fact, it is not much different from you losing access to your desktop wallet for whatever reason, for example, due to a drive failure. Regarding dust in your wallet, you can always try sending the coins with no fees and then start praying eagerly.